News Release
| Standex Appoints John Abbott as New Vice President of Food Service Equipment Group |
New Standex Food Service Leader Brings Significant Acquisition
Integration Experience
SALEM, N.H.--(BUSINESS WIRE)--Jan. 17, 2007--Standex International Corporation (NYSE:SXI) today announced that John Abbott has joined the Company as group vice president of the Food Service Equipment Group. Abbott has replaced Duane Stockburger, who will be retiring effective June 30, 2007. Prior to joining Standex, Abbott had served for 18 years in various executive positions for Pentair Corporation, a Minnesota-based diversified operating company. His most recent position was as president of the Pentair Filtration Group, a $450 million group within Pentair with 2,000 employees. During his two years in this position, Abbott integrated several acquired companies and established vertical market strategies to accelerate organic growth. Prior to heading up the filtration group, John held a number of P&L positions within Pentair's Electronic Packaging Group. He also served as president of Schroff North America, and began his Pentair career at Hoffman Enclosures as product development director/product manager and then vice president, Engineering. "John has distinguished himself as a top-notch operating executive with significant relevant experience to Standex," said Roger Fix, Standex president and chief executive officer. "John's integration skills will be especially valuable as we integrate the recently acquired American Food Service and APW Wyott organizations into our Food Service Equipment Group. He also has successfully implemented lean manufacturing and leveraged low-cost manufacturing in Mexico and offshore materials sourcing to enhance growth and profitability. We welcome John to Standex and look forward to his contributions as we continue to grow the Food Service Equipment Group." Abbott holds a Bachelor of Science in Mechanical Engineering from the University of Minnesota and an MBA from the College of St. Thomas in Minnesota. "On behalf of everyone at Standex, I would like to thank Duane for his 10 years of dedication to the Company," continued Fix. "Under Duane's leadership, the Food Service Equipment Group more than doubled in size and became a significant player in the North American food service marketplace. Duane will be working with Standex through June to assist with the management transition and the integration of the newly acquired companies." About Standex's Food Service Equipment Group The Food Service Equipment Group (FSEG) is a broad-line manufacturer of commercial food service equipment, including walk-in coolers and freezers, refrigerated, non-refrigerated and hot display cabinets and storage systems, commercial ovens, rotisseries and cooking equipment, bakery and deli display cases, hot food counter-top products, patient feeding systems, rotary vane pumps and stainless steel fabrication, millwork and solid surface stonework. FSEG enjoys market leadership positions and strong brand recognition in the food service industry with each of its eight leadership companies: American Food Service, APW Wyott, Bakers Pride, Barbeque King (or BKI), Federal Industries, Kool Star, Master-Bilt, Nor-Lake, Inc. and Procon. The group employs 1,500 with manufacturing facilities in Ireland, Mexico, Mississippi, New York, South Carolina, Tennessee, Texas, Wisconsin and Wyoming. In addition to the U.S., FSEG has an established presence in Europe and is developing or expanding distributor relationships in Africa, Asia, Australia and South America. About Standex Standex International Corporation is a multi-industry manufacturer in five broad business segments: Food Service Equipment Group, Air Distribution Products Group, Engineered Products Group, Engraving Group and Hydraulics Products Group with operations in the United States, Europe, Canada, Australia, Singapore, Mexico, Brazil and China. For additional information, visit the company's website at www.standex.com.
CONTACT: Standex International Corporation SOURCE: Standex International Corporation |